Moody’s withdraws the ratings of Golomt Bank

Nov 5 • Banking, Featured, News • 3397 Views • No Comments on Moody’s withdraws the ratings of Golomt Bank

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Hong Kong, November 05, 2013 — Moody’s Investors Service has withdrawn the ratings of Golomt Bank because it believes it currently does not have sufficient or otherwise adequate information to support the maintenance of the rating.

RATINGS RATIONALE

Moody’s has withdrawn the rating because it believes it has insufficient or otherwise inadequate information to support the maintenance of the rating. Please refer to the Moody’s Investors Service’s Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

The ratings withdrawn are

• E+ standalone bank financial strength rating (equivalent to a b1 baseline credit assessment, BCA);

• B1 issuer rating;

• B1 local currency long-term deposit rating;

• B2 foreign currency long-term deposit rating

Domiciled in Ulaanbaatar, Golomt Bank reported total unaudited IFRS assets of MNT2.5 trillion (USD1.8 billion) as of 31 December 2012. The bank is 84.6% owned by Bodi International LLC (unrated) — the immediate holding company of the Bodi Group in Mongolia — 10.1% by Swiss MO Investment AG (unrated), and 5.0% by Trafigura Beheer B.V. (unrated).

Source: Moody’s

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